Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, The SEC should close the loopholes which allow frauduluent scam artists to exploit consumers who want to invest their money in 401(K), IRA and other investment plants. I made a personal decision NOT to invest in a pension plan because I witnessed the 1987 debacle of Black Thursday Wall Street crash and 2008 Bernie Madoff Ponzi scheme the Securities Exchange Commission was WARNED about for years but refused to arrest Bernie Madoff. The stock market is for suckers and 100% of the time Wall Street crashes, it is always small investors, middle class, working class folks who get wiped out. The corporate thugs dressed up in $10,000 tailored suits who create scam investment boondoggle NEVER go to prison. To the contrary, the Congress, Senate, SEC always enables corporate white collar criminals who prey on hard working investors, typically walk away scott free. Instead of a conventional pension plan like 401(k), IRA I prefer to sock my money away in a very low interest CREDIT UNION savings account. At least my money is safe, although the interest is very low. I have zero trust in the SEC, Congress & Senate and will refuse to invest my savings in conventional investment plans such as 401(k) and IRA until the federal government cleans up their act and stops enabling corporate white collar criminals who fraudulenty scam hard working Americans with fake retirement plans. I'm counting on you to make a stronger rule that closes the loophole. Americans who've worked hard to save for retirement deserve peace of mind about their financial security. Sincerely, Ms. Colleen Whalen